Nintendo’s Iwata Under Fire After Missing Wii U Forecast
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Nintendo Co. President Satoru Iwata, who tripled revenue by introducing hits like the Wii console, is coming under fire from some investors and analysts after the company’s latest game machine flopped.
Though Iwata had vowed to deliver 100 billion yen ($960 million) in operating profit this fiscal year, the world’s largest maker of video-game machines instead forecast a surprise 35 billion-yen loss, blaming poor sales by the Wii U. The company last week cut projections for Wii U unit sales by 69 percent and game sales by 50 percent.